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Today's Newsletter - BCBR News and Notes

Extra, Extra, Read All About It …and by "it" we mean everything that’s happening at your REALTOR® Board Office, in your Real Estate profession and in housing news throughout Berkshire County and beyond. This information is updated continually, and covers topics from your e-news notices, press releases, ProMatch Message Board, MAR, NAR and more - so keep checking back to keep up-to-date.

If you are looking for past news, please view our archives.



Current News Headlines



iPhone App from Realtor.com

Over one MILLION downloads in just five months!



blank_pageWe are pleased to announce that the REALTOR.com iPhone application has had over 1,300,000 downloads since it was launched in January 2010! It is the most comprehensive real estate search on iPhone. Consumers can search based on GPS l...ocation, search nearby Open Houses, show listings on a map, and "one tap" call to the listing agent. Check it out!  iPhone app can be downloaded from Apple iTunes: itunes.apple.com/us/app/real-estate-search/id336698281 or www.realtor.com/iphone.


More Information: Click Here



Good News! New Appraiser Guidelines

Released 6/30/2010 from Fannie Mae



The June 30th Update requires (among other things) lenders use of appraisers with a direct, local knowledge of the area, offers guidance when using distressed property comps, allows Realtors to provide factual info directly to appraisers to help ensure accuracy, and prohibits lenders from changing the appraisal / home value.  Read the full Inman News Article


FRAUD ALERT

Protect your escrow accounts from theft



Fraud Alert:  In addition to ongoing Craigs List scams whereby for-sale property information is copied from Realtor.com and then illegally listed for rent instead (deposits are stolen...alert Craigs list immediately if this happens and they pull the ad) there is a new nationwide scam that has stolen money directly from real estate agent's escrow accounts. 

Read what's going on directly from NAR legal... you'll need to sign into Realtor.org to access this information



Appraisals USPAP - November 04, 2010

Tony Ferderico presents 2010-2011 7 Hour USPAP Update



Credit info: This course has been approved by MA, NH, RI, CT and VT for 7 hours of continuing education credit.
This presentation consists of material necessary for updating participant's knowledge of the 2010-2011 Uniform Standards of Professional Appraisal Practice (USPAP), as required for meeting continuing education requirements for general and residential appraisers. The update covers all of the applicable standards using a combination of lectures and case studies.

Courses:

Date

Time

Course

Instructor

Members NonMem.

11/04/10

9:00am - 5:00pm

2010-2011 7 Hour USPAP Update

Tony Federico




Facebook Ap for Sharing your Listings

Easy and Free for Berkshire Realtors



In response to frequent questions... Here is the info to share your listings from REALTOR.com® with the new Facebook app. Download the "See My Listings" Facebook widget on the left side menu bar and post to your page on Facebook for free. For Berkshire County MLS users, you will need your MLS short ID #. Call the office 413-442-8049 to get it... http://www.facebook.com/#/realestatemarketer?ref=mf


Upgrades of Oil Tank Supply Line

New Regulation Effective July 1, 2010



Effective July 1, 2010, homeowners must upgrade their oil tank supply line to prevent undiscovered leaks. There are two manners of upgrade; an oil safety valve on the tank or a protective sleeve that encases the actual oil line from tank to burner. Since all homeowners (not just those transfering title) must comply with this new regulation, you'll start to see Home Inspectors identify this issue during their inspection and Fire Inspectors check when issuing a smoke/carbon certificate.

This regulation applies to 1-4 family homes heated with oil, unless the burner and entire supply line is located above the oil tank. Homeowners conforming with this new regulation will also be able to purchase insurance coverage for oil leaks (typically not covered), as mandated by the regulation. For more information, please see Mass DEP guidance



MBREA Appraisal Courses 7 credits - September 23, 2010

Common Architecture and Exterior Construction



Introduction to Common Architectural Styles and Features

This seminar has been approved by MA, CT, NH, RI and VT for 3.5 hours of continuing residential credit. This introduces the residential appraiser student to a general overview of common architectural styles and features found in most housingmarkets. Appraisers will gain the basic skills needed to correctly identify recognized architectural categories and housing styles. Appraiser students will also learn how to accurately define physical characteristics pertaining to common floor plans, window types, entrance systems, chimneys, dormers, wall systems and other relevant building details. Through the use of chapter “quick quizzes,” students will acquire a depth of understanding and expertise to enhance the credibility of their appraisals.

Understanding Exterior Construction Components

This seminar has been approved by MA, CT, NH, RI and VT for 3.5 hours of continuing residential credit. Exterior construction components such as grading, retaining walls, porches, etc. are all important details of an improved residential property. Clients and other users of appraisal services expect appraisers to make reliable value-related decisions regarding the quality of outdoor constructionmaterials, workmanship, structural integrity and condition of these visible improvements. Appraisers are also expected to make competent decisions and statements pertaining to deferred maintenance problems which could directly impact structural soundness and the health and safety of dwelling occupants. In this seminar, students will learn to identify and understand key exterior improvements, the implication of common problems and the need for further inspection by specialized professionals. Through the use of chapter “quick quizzes,” appraiser students will acquire a firm understanding of these building systems to enhance their judgment skills and competency level.

Courses:

Date

Time

Course

Instructor

Members NonMem.

09/23/10

1:00am - 4:30am

Understanding Ext. Construction Components

Tony Federico

09/23/10

9:00am - 4:30am

September Appraisal All Day

Tony Federico

09/23/10

9:00am - 12:30pm

Intro to Common Architectural Styles and Features

Tony Federico




Green Designation - September 15, 2010

Green Designation Brought to the Berkshires by Popular Request!



NAR's Green Designation is a real estate designation designed for residential, commercial and property management professionals looking to green their businesses and their lives. It is also the only green designation for agents AND property managers recognized by the National Association of REALTORS®.When you earn NAR's Green Designation, you'll gain:

  • A comprehensive understanding of what it means to go green and the concerns of consumers seeking green knowledge about real estate
  • Valuable real estate education that broadens your abilities in the eyes your clients, prospective clients and associates
  • Enhanced ability to participate in the green real estate market
  • Ongoing specialized training and resources that help you stay on top of green real estate issues and trends
  • Access to customizable members-only marketing tools to help you build your business and gain a competitive edge

What we're offering?

This is the required core course needed to obtain Green Designation. It is completiely priced at $295 for the full two day program. Course Outline

To earn NAR's Green Designation, you must achieve the following:

  • Successfully complete this 2-day Green Desigantion Core Course
  • Within one year, successfully complete the Online Green Designation Elective Course, in either Residential Real Estate, Commercial Real Estate, or Property Management, and pass the written examination. (cost $125 for online elective course)
  • Submit the Green Designation Application Form upon successful completion of the Core Course and at least one Elective Course.
  • Maintain active membership in the National Association of REALTORS®.

Maintaining this Desgination beyond the first 12 months:

Annual membership dues for the Green REsource Council are $99.00 ($US), billed in advanced on a calendar-year basis. There is no cost for your initial membership dues with the application. Your completion of NAR’s Green Designation Core Course covers the first twelve months of membership. Your dues for the next calendar year will be due one year from you Core Course completion date and will be prorated to reflect the number of months remaining after the first 12-month period. You must maintain active membership in the NATIONAL ASSOCIATION OF REALTORS® and the Green REsource Council to retain and use NAR’s Green Designation.

To Register: Click Here

Courses:

Date

Time

Course

Instructor

Members NonMem.

09/15/10

9:00am - 5:00pm

Green Core Desigantion Course

Rosanne Farrow




September Continuing Education - September 02, 2010

Receive up to 12 Hours of Continuing Education Credit in 2 Days



Auction 101:  This course will cover all facets of hosting or interacting with a real estate auction, including the various types, absolute and reserve bids, dutch high-low and online

Smart Growth/Smart Energy:  This is a course designed to introduce real estate professionals to the various concepts included in the Massachusetts Smart Growth/Smart Energy initiative.

Title V:  Everything a Massachusetts REALTOR® needs to know about septic systems in the sale of properties that are not serviced by municipal water. 

ADA: This course covers the details of the American's with Disabilities Act in depth and examines public accommodation and building requirements.

Architecture: Scan through the list of possible property types and you might be caught unaware… Berkshire County does not just consist of capes and ranches.  What’s a Greek revival? The difference between a bungalow or cottage? Learn all about it here.

Zoning & Building Codes: We all know the building permitting process, but this course digs deeper to uncover zoning procedures, egress systems, fire protection, repairs, liens, sanitary code and all you’ll ever need to know to help your clients go from sale to sold!

 

Courses:

Date

Time

Course

Instructor

Members NonMem.

0:am - 0:am

September 2010: All 12 Credits, 2 days

Register in One Shot

09/02/10

9:00am - 11:00am

Auction 101

Jean Fitzgerald

09/02/10

11:15am - 1:15pm

Smart Growth / Smart Energy

Jean Fitzgerald

09/02/10

2:00pm - 4:00pm

Title V

Jean Fitzgerald

09/03/10

9:00am - 11:00am

Americans with Disabilities Act

Andy Consoli

09/03/10

11:15am - 1:15pm

Architecture

Andy Consoli

09/03/10

2:00pm - 4:00pm

Zoning & Building Codes

Andy Consoli




Tax Credit for Armed Service Members

Extended to May 1, 2011



Armed services members, as well as intelligence service and foreign service personnel, who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 2011. Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years, or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.



Pay your 2010 Dues On-line - December 31, 2009

Paypal option available



Realtor Membership Renewal

Ah yes, it's that time again... annual renewal of your REALTOR® membership. While local and national dues have stayed the same, Massachusetts dues have increased by $9 for 2010. The breakdown is as follows:

Berkshire Dues $172
Massachusetts Dues $147
National Dues $115

Total REALTOR® Dues

$434

Courses:

Date

Time

Course

Instructor

Members NonMem.

12/31/09

0:am - 0:am

2010 REALTOR Dues

12/31/09

0:am - 0:am

2010 Basic Affiliate

12/31/09

0:am - 0:am

2010 Silver Affiliate

12/31/09

0:am - 0:am

2010 Gold Affiliate

12/31/09

0:am - 0:am

2010 Platinum Affiliate




Short Sale Foreclsoure Information

Compiled Material from the Berkshire, Mass and National Associations



The Board held a Short Sale / Foreclosure Breakfast Forum on August 8th and distributed quite of bit a helpful information for REALTORS dealing with short sales and foreclosures. We have included all of the materials provided here as well.

Short Sale / Foreclosure Documents: The Short Sale Workflow Report by NAR, the LMC Sample Authorization for Realtors to interact with Bank, Sample Exclusive Right to Sell and Purchase and Sale language, and more. (870k pdf)

Also worth noting are the changes made to our MLS Rules and Regulation regarding the disclsoure of short sales. See below for the additions made to help clarify the process of disclosing the short sale possibility in the MLS listing information.

Section 5. Nothing in these MLS rules precludes a listing participant and a cooperating participant, as a matter of mutual agreement, from modifying the cooperative compensation to be paid in the event of a successful transaction.

NEW: Section 5.0.1: Participants may, but are not required to, disclose potential short sales to other participants and subscribers. When disclosed, participants may, at their discretion, advise other participants whether and how any reduction in the gross commission established in the listing contract, required by the lender as a condition of approving the sale, will be apportioned between listing and cooperating participants.

NEW 6. Multiple Listing Services must give participants the ability to disclose to other participants any potential for a short sale. As used in these rules, short sales are defined as a transaction where title transfers; where the sale price is insufficient to pay the total of all liens and costs of sale; and where the seller does not bring sufficient liquid assets to the closing to cure all deficiencies. Multiple Listing Services may, as a matter of local discretion, require participants to disclose potential short sales when participants know a transaction is a potential short sale. In any instance where a participant discloses a potential short sale, they must also be permitted to communicate to other participants how any reduction in the gross commission established in the listing contract required by the lender as a condition of approving the sale will be apportioned between listing and cooperating participants. All confidential disclosures and confidential information related to short sales must be communicated through dedicated fields or confidential “remarks” available only to participants and subscribers

 



More Information Available
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Berkshire County Board of Realtors® - 99 West Street, Suite 200 Pittsfield, MA 01201-5845 413-442-8049
Sandra J. Carroll, Chief Executive Officer - Sue O'Brien, Member Services Administrator- Stacy Buhl, Office Clerk


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